Moody’s obtains full ownership of Korea Investors Service

By Tali Rackner

Norfolk, Va., July 19 – Moody’s Corp. acquired full ownership of Korea Investors Service (KIS), according to a press release.

Korea Investors has been a majority-owned affiliate of Moody’s Investors Service since 2001. It will continue to operate as an independent affiliate of Moody’s Investors Service and chief executive officer Jae-Hong Lee will continue to lead the company.

“Moody’s and KIS have had a long-standing and productive partnership, and this deal further solidifies our presence in this important market,” Moody’s Investors Service president Robert Fauber said in the release.

Under the terms of the deal, Moody’s will also gain a majority ownership stake in KIS Pricing, a majority-owned subsidiary of Korea Investors Service and provider of pricing services and analytics for fixed income and other local securities, according to the agency.

Specific deal terms were not disclosed. The acquisition is not expected to have a significant impact on Moody’s earnings per share for 2016 and will be funded from international cash on hand, the release said.

Moody’s is a New York City-based credit ratings and research agency. Korea Investors Service is a provider of domestic credit ratings in Korea.

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